After receiving a First Premier Bank credit card in the mail, and battleing with them about the so called fee. I had a $400.00 limit, and 2 days after I used it once, I got a bill for over $300.00. I paid my $20.00 that I charged, and then refused to pay any more. They did a P& L write-off. I have seen many usacomplaints.com on them, and filed my own as well.
Anyway, I have refinanced a couple of times after this and all the mortgage brokers and banks said it was a P & L write off don't even worry about it. This did not stop First Premier from adding interest and late fees on to the amount. Anyway, I just started receiving calls from Arrow Financial. After the first message, not knowing what it was about I called. I found out, and this guy told me to call back in a week with my payment. I just ignored him, then a guy named Derek Strong, who was the innitial contact, called me, and we argued a little about the collection, and I told him, it was a P & L write off, then they finally made it a charge off. He said their company bout the debt and are now going to collect it. He said this debt will haunt me, and they would hunt me down. Oh, I was shaking (not).
He told me that I should have read the agreement better, and that the best he could do was send me a settlement amount in the mail. I spoke with him well before Christmas, and two days ago (January 4th) I received a payoff amount. It was a letter dated December 27, with a payment due at their office, in full (about $175.00 less than original balance) by December 30. Hello! It was mailed from out of state, to be returned from out of state in 3 days? Not only that, but they wanted a credit card payment!!! That alone set off bells of concern. The only way you could pay this off was with another credit card.
I just learned of this site, and this is already my third report. I was amazed at how many people went through the same things as I have with some of these companies. Until my husband turned me on to Clark Howard's web-site, which turned me onto this one, I never would have known the rights that I have. Thank you for all the information that people have contributed. It is free, honest, and extrememly helpful. I am telling everyone I know about this web-site.
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